Saudi's Economy Minister Exclusive on the Kingdom's Diversification, Aramco IPO

The video discusses Saudi Arabia's economic strategies for 2020, focusing on non-oil growth sectors like tourism and entertainment. It highlights the role of the Public Investment Fund and National Development Fund in supporting the economy. Challenges faced by the private sector are acknowledged, with emphasis on privatization and market development. The Saudi Aramco IPO is expected to positively impact the market. Energy reforms and unemployment reduction are key priorities, with increased workforce participation, especially among women. Investment strategies are coordinated between major funds to boost economic growth.

Which sectors are highlighted as new areas for non-oil growth in Saudi Arabia?

• Banking and Finance

• Agriculture and Fishing

• Tourism and Entertainment

• Real Estate and Construction

What are the two main funds supporting the Saudi economy?

• Development Fund and Infrastructure Fund

• National Wealth Fund and Public Sector Fund

• Saudi Sovereign Fund and Economic Growth Fund

• Public Investment Fund and National Development Fund

What is a significant challenge faced by the private sector in Saudi Arabia?

• Lack of skilled labor

• Limited access to technology

• Economic volatility

• High taxation rates

What is a key component of Saudi Arabia's economic diversification strategy?

• Privatization of certain sectors

• Expanding public sector employment

• Reducing foreign investments

• Increasing oil production

What is the government's approach to energy price reforms?

• Fixed pricing for the next decade

• Complete deregulation of energy prices

• Gradual adjustment with a holistic model

• Immediate removal of subsidies

How has Saudi Arabia addressed the issue of unemployment?

• By offering tax incentives to companies

• By reducing working hours

• By promoting women's participation in the workforce

• By increasing public sector jobs

What role do the Public Investment Fund and National Development Fund play in the local economy?

• They provide loans to small businesses

• They manage public sector employment

• They act as equity investors to open up new sectors

• They focus solely on international investments